HYBE founder and chairman Bang Si-hyuk has pledged to return to Korea promptly and cooperate fully and transparently with an ongoing fraud investigation by authorities in the country, he wrote in an internal email sent to employees on Aug. 6. In the email, his first statement since the recent controversies, Bang wrote, “I cannot allow my personal issues to continue burdening the company and the industry,” adding that he intends to “resolve the allegations at hand.”

HYBE has faced constant scrutiny from both domestic and international media amid a string of unfavorable developments in recent weeks.

On July 22, the Seoul Southern District Court convicted three former employees of HYBE Labels on charges of insider trading. A week later, on July 29, the Seoul Regional Tax Office’s 4th Bureau of Investigation launched a large-scale tax investigation, conducting a search and seizure at HYBE’s headquarters in Yongsan-gu, Seoul.

And HYBE Chairman Bang has been caught up in the scrutiny, with a probe centered on stock purchases and investor communications ahead of the company’s IPO in 2020.

“Due to various circumstances since last year and recent personal matters, both the company and my name have been repeatedly mentioned in unfavorable news,” Bang wrote in his email. “Above all, I sincerely apologize to our members who may have felt discomfort because of this.”

Reflecting on HYBE’s origins, he added, “HYBE was the starting point of my journey to realize the ideals and dreams I have held as a creator. With a grand vision and a sense of duty to modernize the music industry, I have always strived to remain true to myself throughout the process.”

Bang admitted he has been questioning whether there were things he overlooked during the company’s growth. “The period in which I was unable to respond swiftly to the suspicions and controversies was also a painful time for me,” he said, expressing concern that his personal matters could indirectly harm artists and staff who should be focused on their creative and business work. He closed his email by thanking employees for their dedication amid the turmoil. “I will do my utmost to explain and resolve this situation so that my personal issues do not become an obstacle to your talents, capabilities and spirit of challenge,” he wrote. “Like all members of HYBE, I will continue to reflect deeply and remain committed to the development of music and the industry.”

Despite the ongoing internal and external turmoil, the company’s artists continue to achieve remarkable success both domestically and abroad. BTS has placed a total of 16 albums on the Billboard 200 chart, with eight of them reaching the top 10 — a first and a record for any Korean artist. TOMORROW X TOGETHER’s fourth full-length album, The Star Chapter: TOGETHER, topped the Top Album Sales, Top Current Album Sales and World Albums charts, and also debuted at No. 3 on the Billboard 200.